DAILY: China's thermal coal market remains weak as demand outlook sours

Sentiment in China's thermal coal market deteriorated further on November 28, as anxious traders liquidated positions against a backdrop of tepid buyer interest. The prospect of a price rebound in early December has now evaporated, leaving the market vulnerable to a steeper downturn.

On Friday, Mysteel's assessment for the benchmark 5,500 kcal/kg NAR coal dipped Yuan 1/t on day to Yuan 821/tonne ($116/t), FOB northern ports with VAT. Assessments for the 5,000 kcal/kg and 4,500 kcal/kg NAR grades were Yuan 721/t and Yuan 625/t, lower by Yuan 2/t and Yuan 3/t, respectively.